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IMF says Rwanda economy to expand by 6.5 pct this year

KIGALI (Reuters) – Rwanda’s economy is expected to grow by 6.5 percent this year from 7.0 percent in 2014, while inflation will remain contained, the International Monetary Fund said on Thursday. Rwanda’s government has said last year’s economic growth was buoyed by robust expansion in farming, services and industrial sectors, rising from 4.6 percent in the previous year. The east African nation’s 2013 growth suffered from cuts in budgetary support by donors, after United Nations…

Nigerian Political Landscape:Beyond the Change Chorus

Posted on by The Editorial Team

Beyond the Change Chorus… Open for Business Again? Against the intense apprehension by local and international observers, Nigeria’s 2015 Presidential Elections turned out peaceful and successful following the incumbent’s concession of defeat prior to the final announcement by the electoral umpire – INEC. The election, which was keenly contested by All Progressives Congress (APC) – Gen. Muhammad Buhari (GMB) and Peoples Democratic Party (PDP) – Goodluck Ebele Jonathan (GEJ) saw the emergence of GMB as…

World Bank to finance expanded agriculture in Ethiopia

Posted on by The Editorial Team

WASHINGTON, March 31, 2015– The World Bank Group’s Board of Executive Directors today approved US$350 million to help the government Ethiopian increase agricultural productivity and enhance market access for smallholder farmers in more than 150 of its rural districts. The new financing, from the World Bank’s highly-concessional lending agency- the International Development Association, will further boost the development potential of Ethiopia’s agriculture industry which accounts for 45 percent of the country’s total output and occupies…

IMF lends Burundi $6.9 mln to support economy before elections

Posted on by The Editorial Team

BUJUMBURA (Reuters) – The International Monetary Fund said on Wednesday it would lend Burundi $6.9 million to shore up the aid-dependent central African nation, months before a presidential election in June. Tensions are running high in the land-locked nation, which is tentatively emerging from more than a decade of civil war, because of a dispute over whether current President Pierre Nkurunziza can run for another term in a vote on June 26. The IMF also…

Namibia economy to grow 5.7 pct in 2015, driven by exports

Posted on by The Editorial Team

WINDHOEK (Reuters) – Namibia’s economy is expected to grow by 5.7 percent in 2015, driven by exports in the continent and abroad as well as a jump in domestic economic activity, Finance Minister Calle Schlettwein said in a budget speech on Tuesday. Schlettwein said government revenues increased by 28.6 percent to Namibian $53.91 billion ($4 billion) in 2014/2015, compared with the previous year, and projected the budget deficit would be 5.3 percent of gross domestic…

Nigeria: 2015 Election analysis

Posted on by The Editorial Team

At the time of writing, the election results had still not officially been declared by the Independent National Electoral Commission (INEC). Problems with biometric card readers delayed voter accreditation, and a few attacks on election centres caused a delay in the voting process itself. This led INEC to extend the vote by one day from March 28 to March 29 in some areas. We do not expect to see significant changes in policy regardless of…

Fitch Affirms Nigeria at ‘BB-‘; Outlook Revised to Negative

Posted on by The Editorial Team

London, March 30 (Fitch): Fitch Ratings has affirmed Nigeria’s Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at ‘BB-‘ and ‘BB’ respectively. The Outlooks on the Long-Term IDRs have been revised to Negative from Stable. The issue ratings on Nigeria’s senior unsecured foreign currency bonds are affirmed at ‘BB-‘. The Country Ceiling is affirmed at ‘BB-‘ and the Short-Term Foreign Currency IDR at ‘B’. Under EU credit rating agency (CRA) regulation, the publication of…

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